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Comment : A bet on oil at this point is a bet against Trump
If that’s your bet then …good luck
He beat death several times
he beat jail several times
he beat bankrupcy several times
He beat the MSM several times
He beat the Democrats several times
AND
He beats the hell out of Old man Time every day
Love him or Hate him All he does is Win
but maybe this time is different
I am not betting against Trump. That is not my motivation. Sorry fully but my offer is withdrawn. You can carry your fight to the next person but leave me out of the politics please.
If I can buy 50+ bbl of oil with an ounce of gold (oil falls gold stable) – I’m going to buy more oil (equities that is).
It’s not a reflection on confidence in or support of Trump – just a matter of value – like silver in the 20’s.
And an ounce of silver (retail) can buy a barrel of oil – so if gold and silver are money, oil energy is dirt cheap.
Looks like wishful thinking.
Neither the fundamentals (crude stockpiles), nor technicals AT THE HIGHER TIME FRAMES, support that structure.
Wish it weren’t so.
Gotta call em as I see em.
I do see a bit more downside lean, but not like yours.
I’m listening to Armstrong, and so bought a few oil related shares on Friday at the trendline. I don’t think it needs to be so partisan. What can Trump do if the other side refuses to relent?
Thats funny you mention Armstrong. He is one guy who is getting on my nerves lately. He does a great job of self promotion but have you ever noticed he hardly ever off carries off the champions cup when he talks on a podcast or interview? He is constantly wrong! He is too early or too late with metalals and markets. He covers that up by saying his model is always right but if he personally gets involved in speculation he is always wrong. This recent gold selloff seems to have affected his brain. The last couple months was one missed call after another. Remember he said last week would see some eventfulness? What a loser.
You’re right, but he’s always right after the fact.